{
  "checked_on": "2026-09-21",
  "issuer": "CoreWeave, Inc.",
  "currency": "USD",
  "numeric_scale": "dollars and shares, not millions",
  "sources": {
    "pricing_20260918": "https://investors.coreweave.com/news/news-details/2026/CoreWeave-Prices-Upsized-3-7-Billion-Convertible-Senior-Notes-Offering/default.aspx",
    "atm_announcement": "https://investors.coreweave.com/news/news-details/2026/CoreWeave-Announces-At-the-Market-Offering-Program/default.aspx",
    "current_report": "https://www.sec.gov/Archives/edgar/data/1769628/000176962826000429/crwv-20260917.htm",
    "current_report_index": "https://www.sec.gov/Archives/edgar/data/1769628/000176962826000429/0001769628-26-000429-index.htm",
    "distribution_agreement_and_forward_form": "https://www.sec.gov/Archives/edgar/data/1769628/000176962826000429/ex11.htm",
    "prospectus_supplement": "https://www.sec.gov/Archives/edgar/data/1769628/000162828026062362/coreweave-424b5.htm",
    "earlier_proposal": "https://www.sec.gov/Archives/edgar/data/1769628/000176962826000429/ex9911.htm"
  },
  "convertible_notes": {
    "source": "pricing_20260918",
    "source_date": "2026-09-18",
    "status": "priced; settlement scheduled subject to closing conditions",
    "previous_proposed_principal": 3000000000,
    "priced_base_principal": 3700000000,
    "additional_purchase_option_principal": 500000000,
    "additional_option_exercised": null,
    "scheduled_settlement_date": "2026-09-22",
    "actual_settlement_date": null,
    "actual_cash_received": null,
    "annual_coupon": 0.02875,
    "first_interest_payment_date": "2027-04-01",
    "maturity_date": "2033-04-01",
    "initial_conversion_shares_per_1000_principal": 10.2194,
    "reported_approximate_initial_conversion_price": 97.85,
    "estimated_net_after_discounts_before_issue_expenses_base": 3644500000,
    "estimated_net_after_discounts_before_issue_expenses_full_option": 4137000000,
    "base_capped_call_cash_allocation": 498800000,
    "additional_capped_call_cost_if_option_exercised": null,
    "other_issue_expenses": null,
    "capped_call_initial_cap_price": 199.70,
    "cash_allocation_is_not_a_measure_of_economic_loss": true
  },
  "equity_program": {
    "sources": ["atm_announcement", "current_report", "prospectus_supplement"],
    "agreement_date": "2026-09-17",
    "status": "distribution framework established; specific placements not confirmed here",
    "maximum_offered_shares": 35000000,
    "fixed_dollar_funding_commitment": null,
    "shares_actually_sold": null,
    "issuer_cash_actually_received": null,
    "company_obligated_to_sell": false,
    "routes": ["direct agency/principal share sales", "collared forward sales"],
    "maximum_commission_rate": 0.02,
    "expected_sales_restriction": {
      "source": "current_report",
      "locator": "Item 8.01",
      "days_after_convertible_purchase_agreement": 30,
      "classification": "company expectation of agreement with initial purchasers",
      "purchase_agreement_date_verified": null,
      "calculated_first_sale_date": null
    }
  },
  "collared_forward": {
    "sources": ["distribution_agreement_and_forward_form", "prospectus_supplement"],
    "locators": ["Exhibit B pp. B-7 to B-10", "Annex A Exhibit 1", "Prospectus supplement pp. S-12 to S-16 and S-28 to S-30"],
    "initial_proceeds_to_issuer_from_forward_seller_sales": 0,
    "initial_proceeds_scope": "this forward-sale route only, not total issuer liquidity",
    "issuer_unilateral_early_settlement_right": false,
    "dealer_acceleration_after_specified_date": true,
    "prepayment_in_form": "Not Applicable",
    "valuation_measure": "arithmetic average of valuation-period VWAPs, then component-level floor/cap",
    "default_settlement": "physical shares against cash",
    "increment_may_be_received_in_own_shares": "conditional True-Up Share Settlement election",
    "true_up_timing": "separate settlement after the unwind period",
    "normal_settlement_only": true,
    "specific_transaction_terms_not_verified": {
      "shares": null,
      "hedge_reference_prices": null,
      "floor_percentage": null,
      "cap_percentage": null,
      "commission_rate": null,
      "scheduled_valuation_date": null,
      "first_acceleration_date": null,
      "stock_borrow_thresholds": null
    }
  },
  "evidence_boundaries": [
    "September 18 pricing supersedes the September 17 proposed base size; pricing is not closing.",
    "Share capacity is not dollar proceeds; unknown executed quantities remain null.",
    "Convertible capped calls and the equity-sale collar are separate derivatives.",
    "The model supplies hypothetical forward prices and dates; it does not infer blank confirmation terms.",
    "Termination, counterparty performance, eligibility and corporate-action adjustments are not modeled."
  ]
}